D.R. Horton Inc. (DHI) Sees Strong Trading Volume

D.R. Horton Inc. (NYSE:DHI) shares saw unusually-high trading volume on Tuesday . Approximately 3,855,541 shares were traded during mid-day trading, an increase of 19% from the previous session’s volume of 3,227,744 shares.The stock last traded at $32.97 and had previously closed at $32.07.

DHI has been the topic of a number of recent analyst reports. Royal Bank Of Canada boosted their price target on shares of D.R. Horton from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, April 25th. Zacks Investment Research upgraded shares of D.R. Horton from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Monday, April 25th. JMP Securities restated a “buy” rating and issued a $36.00 price target on shares of D.R. Horton in a research report on Wednesday, June 15th. Argus initiated coverage on shares of D.R. Horton in a research report on Friday, June 17th. They issued a “buy” rating and a $39.00 price target on the stock. Finally, Credit Suisse Group AG restated a “hold” rating on shares of D.R. Horton in a research report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $32.45.

The company has a market capitalization of $12.28 billion and a P/E ratio of 14.67. The stock has a 50 day moving average of $32.99 and a 200 day moving average of $30.40.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.66. The firm earned $3.15 billion during the quarter, compared to analyst estimates of $3.25 billion. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. On average, analysts expect that D.R. Horton Inc. will post $2.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 8th were paid a $0.08 dividend. The ex-dividend date was Thursday, August 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.97%.

In other news, Director Michael R. Buchanan sold 12,000 shares of D.R. Horton stock in a transaction on Monday, July 25th. The shares were sold at an average price of $33.80, for a total value of $405,600.00. Following the completion of the sale, the director now owns 12,940 shares in the company, valued at approximately $437,372. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barbara K. Allen sold 3,333 shares of D.R. Horton stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $33.95, for a total transaction of $113,155.35. Following the completion of the sale, the director now owns 8,983 shares of the company’s stock, valued at approximately $304,972.85. The disclosure for this sale can be found here.

Other hedge funds recently added to or reduced their stakes in the company. BlackRock Advisors LLC raised its stake in D.R. Horton by 46.2% in the fourth quarter. BlackRock Advisors LLC now owns 1,400,316 shares of the company’s stock valued at $44,852,000 after buying an additional 442,628 shares in the last quarter. Principal Financial Group Inc. raised its stake in D.R. Horton by 2.6% in the fourth quarter. Principal Financial Group Inc. now owns 496,134 shares of the company’s stock valued at $15,892,000 after buying an additional 12,781 shares in the last quarter. State of Tennessee Treasury Department raised its stake in D.R. Horton by 136.1% in the fourth quarter. State of Tennessee Treasury Department now owns 303,585 shares of the company’s stock valued at $9,723,000 after buying an additional 175,018 shares in the last quarter. American International Group Inc. raised its stake in D.R. Horton by 2.5% in the fourth quarter. American International Group Inc. now owns 131,273 shares of the company’s stock valued at $4,204,000 after buying an additional 3,202 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in D.R. Horton during the fourth quarter valued at $1,543,000.

D.R. Horton, Inc is a homebuilding company. The Company is engaged in the acquisition and development of land and the construction and sale of residential homes, through its operating divisions in around 27 states and over 79 metropolitan markets of the United States, under the names of D.R. Horton, America’s Builder, Express Homes, Emerald Homes, Breland Homes, Regent Homes, Crown Communities and Pacific Ridge Homes.